This is part of our "Last Week Today" series that includes a weekly roundup of the past week's most exciting and industry-altering news. Check back on our blog every week for updates! These stories cover sponsorship news for March 22-28, 2021.
Follow the Leader: NBA Targeting NFL-level Broadcast Deal
As the National Basketball Association looks to update their 2016 broadcast rights deal with Turner Sports and ESPN, the model for negotiations has been set by the recent National Football League agreement. The NFL’s deal, over $100 billion over 11 years, will only help the NBA as they look to justify their $75 billion media package asking price. While this is over $50 billion more than the current deal, the international appeal of the league and its star players are enough to bring any media partner to the table.
Caesars Bets on the Big Easy
As the current naming rights deal with Mercedes-Benz ends this summer, the New Orleans Saints are working with Caesars Entertainment on a naming rights deal for the Superdome. The move would be another example of how quickly the NFL is shifting away from the concern of sports betting being closely associated with the league. The move would add to Caesars’ portfolio with the NFL as they are already the league’s official casino partner. While they are losing New Orleans, Mercedes-Benz will continue to have a presence in the NFL as the naming rights partner of the Atlanta Falcons stadium.
It’s Peloton’s World, We Just Ride In It
Even as the world opens back up post-pandemic, Peloton continues to position themselves for long-term success in the fitness industry through various acquisitions. Along with their own athletic apparel line, Peloton has purchased companies that specialize in AI, wearable-tech, and voice command capabilities. As the company has grown due to the demand in at-home fitness options over the past year, this acquisition strategy will only help as they look to what could possibly be near an $80 billion valuation in 2021.
Strong Enough for a Woman, but Made for a Man
Lululemon, the powerhouse of athletic apparel for women, is looking to increase their market share with men. One impact from a year spent primarily in our homes has been the rise of athleisure, clothing that can be worn for both workouts and relaxing activities. Improved product selection and marketing for men already has the men’s apparel outselling the women’s apparel overseas. Interestingly, along with men’s apparel, Lululemon’s recent purchase of Mirror workout technology can be seen as their response to Peloton entering the athleisure space.
Be on the lookout next week for the usual round-up of sponsorship news.